Imprivata Announces Record Revenues for 4Q2014
Lexington, Mass. — January 12, 2015— Imprivata® (NYSE: IMPR) today announced that it expects its fourth quarter 2014 revenue to exceed the upper end of its previously announced guidance range of $26 to $27 million. During the quarter, the company continued to invest in sales and marketing, and in the development of new solutions that will leverage Imprivata’s authentication platform and drive long-term growth.
As the Company has not completed its quarter and year-end fiscal close and the audit of its 2014 financial statements is not complete, the revenue expectations presented in this press release are preliminary, and, therefore, subject to final year-end closing adjustments and may change. The preliminary financial results presented in this release are based solely upon information available as of the date of this release, are not a comprehensive statement of our financial results or positions as of or for the 2014 fiscal year, and have not been audited, reviewed, or compiled by our independent registered accounting firm. The Company expects to issue full 2014 financial results and 2015 guidance during its quarterly conference call in late February 2015.
The Company provided updated guidance in advance of the J.P. Morgan Healthcare Conference, where President and Chief Executive Officer Omar Hussain and Chief Financial Officer Jeff Kalowski will present at 3:30 p.m. PST on Wednesday, January 14, 2015. A live webcast of the presentation will be available online from the investor relations page of the Company's corporate website at www.imprivata.com.
Imprivata is a leading provider of authentication and access management solutions for the healthcare industry. Imprivata’s single sign-on, authentication management and secure communications solutions enable fast, secure and more efficient access to healthcare information technology systems to address multiple security challenges and improve provider productivity for better focus on patient care. For more information, please visit www.imprivata.com.
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding our preliminary estimates of Q4 2014 revenues. Such statements are based on current assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties include factors or circumstances that are beyond Imprivata’s control. Imprivata’s actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to, our ability to successfully develop and introduce new solutions and products for existing solutions; our ability to attract new customers and retain and increase sales to existing customers; developments in the healthcare industry or regulatory environment; seasonal variations in the purchasing patterns of our customers; the lengthy and unpredictable sales cycles for new customers; our ability to maintain successful relationships with our channel partners and technology alliance partners; our dependency on sole source suppliers and a contract manufacturer for hardware components of our Imprivata OneSign solution; our ability to manage our growth effectively; our ability to respond to competitive pressures; potential liability related to privacy and security of protected health information; our ability to protect our intellectual property rights, and the other risks set forth in Imprivata’s filings with the U.S. Securities and Exchange Commission (“SEC”). Furthermore, we are in the process of finalizing our financial results for 2014, and therefore our finalized and audited results are not yet available. The preliminary expectations regarding 2014 revenue are subject to audit by our independent registered public accounting firm and no assurance is given by our independent registered public accounting firm on such preliminary expectations. You should not draw any conclusions as to any other financial results as of and for the year ended December 31, 2014 based on the foregoing estimates. These forward-looking statements speak only as of the date hereof. Imprivata disclaims any obligation to update these forward-looking statements.
Bob East / Asher Dewhurst